Believe it or not, oil is Abiotic, that is it forms deep in the earths crust from geological pressures, and 'replenishes' lower lying wells.

But don't take my word for it learn about it yourself:

http://www.vialls.com/wecontrolamerica/peakoil.html
In 1970 the Russians started drilling Kola SG-3, an exploration well which finally reached a staggering world record depth of 40,230 feet. Since then, Russian oil majors including Yukos have quietly drilled more than 310 successful super-deep oil wells, and put them into production. Last Year Russia overtook Saudi Arabia as the world's biggest single oil producer, and is now set to completely dominate global oil production and sales for the next century.

Wikipedia figures its just a 'Conspiracy'
http://en.wikipedia.org/wiki/Abiogenic_petroleum_origin

But they don't tell you everybody from the CIA to the Vatican has been caught editing Wikipedia:
http://news.bbc.co.uk/1/hi/technology/6947532.stm
http://www.google.ca/search?hl=en&q=CIA+Edits+Wikipedia&btnG=Google+Sea rch&meta=

Get the Low-down on Abiotic Oil
Google it here:
http://www.google.ca/search?num=30&hl=en&safe=off&q=Abiotic+Oil&btnG=Se arch&meta=

Get a Archival PDF at http://www.anomalicresearch.com/abioticoil.pdf

REMEMBER FOLKS THEY ARE ABOUT TO GO INTO IRAN, IF THEY DO EXPECT TO PAY $5-8/GALLON FOR GASOLINE, USING THE IRAN WAR AND THE OIL SHORTAGE AS A PRE-TEXT TO RAISE GASOLINE PRICES.